ShaMaran Petroleum (CVE:SNM) Trading Up 17.4% – Here’s What Happened

ShaMaran Petroleum Corp. (CVE:SNM)’s stock price was up 17.4% during mid-day trading on Monday . The company traded as high as C$0.16 and last traded at C$0.16. Approximately 1,018,256 shares were traded during trading, an increase of 330% from the average daily volume of 236,737 shares. The stock had previously closed at C$0.13.

ShaMaran Petroleum Stock Up 13.6 %

The stock has a market cap of C$426 million, a PE ratio of -3.75 and a beta of 1.14. The company has a current ratio of 4.05, a quick ratio of 1.07 and a debt-to-equity ratio of 148.75. The business has a 50-day moving average price of C$0.12 and a 200-day moving average price of C$0.09.

ShaMaran Petroleum (CVE:SNM) last announced its quarterly earnings data on Thursday, November 7th. The company reported C$0.04 earnings per share for the quarter. ShaMaran Petroleum had a negative return on equity of 7.04% and a negative net margin of 12.93%. As a group, analysts forecast that ShaMaran Petroleum Corp. will post 0.0271318 earnings per share for the current year.

Insider Buying and Selling at ShaMaran Petroleum

In related news, Director William A.W. Lundin purchased 501,500 shares of ShaMaran Petroleum stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of C$0.12 per share, for a total transaction of C$60,180.00. 25.89% of the stock is currently owned by insiders.

About ShaMaran Petroleum

ShaMaran Petroleum Corp., together with its subsidiaries, engages in the oil and gas exploration and production. It holds interest in the Atrush Block production sharing contract; and in the Sarsang Production Sharing Contract in the Kurdistan region of Iraq. The company was incorporated in 1991 and is headquartered in Vancouver, Canada.